Russia, Vens Discuss Production Freeze

 "We discussed the possibility of coordination and further work. If the current situation (on the global oil market) deteriorates, we will return to the possibility of further consultations (on a freeze)," Novak said about his meeting with del Pino on Wednesday.

Leading oil producers, including Russia, failed to agree on output production cuts at a meeting in Doha in April. The idea of an output cap was initially suggested in January, when oil prices hit a 13-year low of $27 per barrel due to oversupply.

Since then the prices have recovered to trade at around $50 per barrel.---News From World Energy News.

Kolanky
The leader of oilfield chemicals